12 February 2019
The Banking Royal Commission and Small Business (Part Two)
Ombudsman Kate Carnell discusses other ways the small business sector might be impacted following the release of the final report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Key issues covered include:
- small business difficulty accessing finance
- call for Australian Prudential Regulation Authority (APRA) and Australian Securities and Investments Commission (ASIC) to step up and create clear guidelines for the banks
- Australian Financial Complaints Authority (AFCA) to review complaints dating back to 2008
- adopting the Ramsay Review recommendations.
Find the full report here - treasury.gov.au/publication/p2019-fsrc-final-report/